From Yahoo Finance: 2025-06-16 07:27:00

Telefonica is refocusing on Brazil, Britain, Germany, and Spain, as it accelerates plans to reduce exposure in Latin America due to lower profitability. The company has sold units in Mexico, Argentina, Peru, Colombia, Uruguay, Ecuador, and more, in a strategic shift under new CEO Marc Murtra.

In Mexico, Telefonica has hired JP Morgan to sell its business. In Argentina, it sold its unit to Telecom Argentina, while in Peru, it agreed to sell to Integra Tec International. Venezuela, Colombia, Uruguay, Ecuador, Chile, El Salvador, Panama, Costa Rica, Nicaragua, and Guatemala are also part of the divestment plan.

Telefonica’s Brazilian unit is part of its core business, with recent acquisitions in cloud services. The company has booked significant capital losses from the sales of its units in Peru and Argentina. Telefonica’s strategy shift comes after a management shake-up, focusing on markets with higher profitability.

Read more: Factbox-Spain’s Telefonica reshapes Latin America strategy after leadership change